In January, a workshop of the European Market Implementation Group (E-MIG) took place at UniCredit Bank Austria’s head offices in Vienna. Over 30 participants represented 17 European markets at this event.
Implementation of the Market Standard for Corporate Actions Processing was the main topic of the first day. Werner Frey, E-MIG’s chairman for Corporate Actions, hosted a panel discussion about the obstacles of implementing the Market Standards in Europe. The main goal is to harmonise the processing of corporate actions in Europe and thus eliminate the Giovannini Barrier 3.
The second day was dedicated to the processing of General Meetings. Markus Kaum (Munich Re), E-MIG’s chairman for General Meetings, discussed the structured fact finding exercise of the current market practices in Europe with the participants. France, UK, Turkey (CSD MKK) and Bulgaria (CSD) introduced their solution of a web-based platform for general meetings information and processing for their domestic market.
The next E-MIG workshop, scheduled for September 2014, will be held in Budapest or Amsterdam.